Cornerstone Strategic Value Fund, Inc. (AMEX:CLM) announced the completion of its one-for-three rights offering which expired Friday, December 16, 2011. The rights offering was over-subscribed. Under the terms of the rights offering, record date stockholders were entitled to purchase one newly issued share of common stock of the Fund for every three rights held. The subscription price for each newly issued share was determined to be $6.09 which, under the terms of the prospectus, was the greater of (i) 102% of net asset value per share as calculated at the close of trading on the date of expiration of the Offering and (ii) 90% of the market price per share.

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